South Korea’s KOSPI Triggers Circuit Breaker in Tech-Led Selloff
Tech shares drove the sell-off as investors reacted to hotter U.S. inflation data and skepticism over AI spending, with KRX halting KOSPI trading for 20 minutes.
- On Thursday, the Korea Exchange activated a circuit breaker for the Korea Composite Stock Price Index after the benchmark plunged more than 8 percent from the previous session's close. Trading of KOSPI-listed shares halted for 20 minutes from 12:38 p.m.
- Hotter-than-Expected United States inflation data released Wednesday showed the Consumer Price Index rose 3.7 percent against a 3.6 percent forecast, fueling expectations of a hawkish Federal Reserve. Persisting skepticism over AI-related trade compounded selling pressure.
- Samsung Electronics tumbled 7.87 percent, while industry leader Hyundai Motor fell 5.1 percent. Financial firm KB Financial slid 1.13 percent and defense giant Hanwha Aerospace dipped 1.54 percent during the broad sell-off.
- Heavy losses on Wall Street triggered a sell-off across Asian markets Thursday, with the Taiwan Stock Exchange benchmark index dropping 3.32 percent to 47,013.01. Taiwan Semiconductor Manufacturing, accounting for more than 40 percent of market capitalization, fell 2.01 percent.
- The Korea Exchange activated the circuit breaker for the ninth time this year, underscoring market volatility. Investors continue monitoring the pace of inflation in the United States and the sustainability of AI-related spending amid persistent global economic uncertainty.
31 Articles
31 Articles
South Korea’s KOSPI triggers circuit breaker in tech-led selloff
SEOUL, Oct 15 (Reuters) - South Korea's benchmark stock index KOSPI fell 8% on Thursday, triggering a circuit breaker for the first time in 2-1/2 months, as chipmakers tracked a technology-led Wall Street selloff after sticky US inflation data raised ...
This was the ninth time this year that trading had to be suspended.
Taiwan shares plunge over 1,500 points Thursday morning
Taipei, Oct. 15 (CNA) Shares in Taiwan tumbled more than 1,500 points at one point Thursday morning, as heavy losses on other major Asian markets and Wall Street triggered a sell-off amid renewed inflation concerns, dealers said.
South Korea triggers 'sidecar' trading halt, KOSPI slumps over 7%
The KOSPI index in South Korea plummeted, leading to a five-minute trading suspension as sell orders outnumbered buyers. Major tech players, including Samsung Electronics and SK Hynix, faced considerable losses, fueling the decline. This downturn marks the KOSPI’s longest losing trend since September 2024, sparking worries about recovery. Foreign investors also contributed to the decline by being net sellers, while Treasury bond interest rates d…
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